The Hartford’s Simsbury Campus Now Up For Sale

by Categorized: On the Market: Commercial Properties For Sale Date:
The Hartford's Simsbury campus is now on the market. Photo Credit: CBRE-NE.

The Hartford’s Simsbury campus is now on the market. Photo Credit: CBRE-NE.

The Hartford’s sprawling suburban campus in Simsbury is on the market, six months after the insurer announced it would shutter the facility and move employees elsewhere.

The 133-acre complex at 200 Hopmeadow St., includes a four-story, 641,000-square-foot building. The property is being marketed without an asking price, according to John M. McCormick, executive vice president in the Hartford office of commercial real estate firm CBRE-NE. CBRE-NE is marketing the property with Cresa-Boston.

In February, The Hartford Financial Services Group Inc. — scaling back to focus on more profitable businesses — said it would close the Simsbury campus, one of its three main locations, over the next two years and relocate 1,500 employees to offices in Hartford and Windsor.

The Hartford has long been Simsbury’s largest taxpayer, and the town will work with the insurer to sell the property, McCormick said.

The Simsbury property was developed for The Hartford in 1984, but until 2010, the insurer didn’t own the building, just the land. In 2010, The Hartford purchased the building at 200 Hopmeadow St. for $46 million, town records show.

The number of The Hartford’s employees in Simsbury has declined, especially since it sold three business lines in the past year in a major restructuring.

If the property sells quickly, The Hartford has said it would accelerate the transfer of employees.

 

 

The Courant is using Facebook comments on stories. To comment on courant.com articles, sign into Facebook and enter your comment in the field below. Comments will appear in your Facebook News Feed unless you choose otherwise. To report spam or abuse, click the X next to the comment. For guidelines on commenting, click here.

4 thoughts on “The Hartford’s Simsbury Campus Now Up For Sale

  1. DR

    @Waldo. While I agree that CT is a terrible place for business, I don’t see how CT policy or it being liberal has anything to do with the issues faced by the Hartford or its restructuring.

  2. ned

    So that hedge fund guy got his way, eh? He wasn’t happy about his Hartford stock, and told them to dump divisions for better profits. And they did. Just another example of Wall St screwing Main St.

  3. Robert

    I know people forget how capitalism works, but companies do exist to make profits and provide value to shareholders. In the ideal world they do it through being the best at what they do and providing excellent products and services to its customers. The Hartford was a multi-line insurer, so the weaknesses in one of their businesses weren’t as readiy apparent. They WERE apparent to the hedge fund guy and he was 100% right. You’ll see more consoidation in the financial services sector thanks to unreasonable government oversight

Comments are closed.